Yes but.... Let's do the math with 28nm chips...


The numbers are:
30gh/chip
24 chips per card
230 cards per "system"
2 x 42U racks per "System"


Someone estimated it would take 190 racks to house 1ph of 55nm cards - so nearer 250 racks to host the 1.3PH ken suggested would come online.

This would be 125 "systems"

In 55nm with chips at 1.9gh/s that would be 10.5TH/s or 5.25TH/s per rack.

With 28nm chips it's 165.6TH/system or 82.8TH/rack

250 racks of 28nm chips is.... 20.7PH/s - this would only need 700,000 chips or around approx 200 x 28nm wafers. Or about $2mil-$5mil for NRE and wafer cost. For 3% TNHR if this came online in august...

So yes - the density of 55nm (1.9gh/s) chips might seem a little low, but the same space could eventually hold over 20PH of hashing power - that is a LOT of hashing power. Also the cost price of getting that hash power online is freakin tiny compared to current options.

So yes, we didn't start hashing when we'd hoped. Yes ken is pissing a lot of people off with shares (not getting trading sorted and dumping a tonne of shares at super low prices) - but things really are ONLY bleak if NOTHING ever happens. I'm of the feeling and understanding that with the engineering team and the tapeout of 55nm, the chance of "nothing" happening is... nil